topic Re: What goes under assets in Self employed

What goes under assets

lawnguy111 — Mon, 09 Mar 2026 07:56:26 GMT

Do lawn equipment for my buisness go under assets?

Re: What goes under assets

VolvoGirl — Tue, 15 Mar 2022 20:09:58 GMT

Things you buy that will last more than a year and cost over $2,500. Those will be deprecated over years. Otherwise you just expense them under Supplies or Other Misc Expenses.

See this article for expensing or depreciating Assets

What can I expense or depreciate with the business...

Re: What goes under assets

JohnB5677 — Tue, 15 Mar 2022 20:19:32 GMT

Yes, lawn equipment is an asset. An asset is something containing economic value, or future benefit. An asset can generate cash flows in the future, such as a piece of machinery, a financial security, or a patent.

Assets can be expensed (deduction taken in one year), or depreciated (deducted over time).

To post assets to TurboTax

Select BUSINESS on the top bar
Let's find some business deductions = Continue
I'll choose what I work on
Select Business Income & Expenses
Select or post your business
Scroll down to Business Assets
The interview will guide you